RBS FD steps down

Royal Bank of Scotland group finance director Fred Watt has stepped down.

The bank, which owns NatWest and is one of the Big Four retail banks,
announced this morning that Watt was leaving.

In a statement, Watt said: ‘When you are working for a great organisation,
with great people, it’s never easy to make the decision to leave, and I know
that I will miss them. However, I have a very young family, and consider myself
very fortunate to be able to make a choice to spend more time with them. I can’t
put their growing up on hold – my family is my number one priority.

‘Not many people have had the opportunity to work in an organisation that has

gone through such a major transformation in such a short period of time. I feel

privileged to have been part of RBS during this exciting time, and have very
much
enjoyed working so closely with the rest of the team.’

Watt has not said when he will leave, only indicating his intention to leave.